Title 30, TRUSTS AND FIDUCIARIES

Sec. 13. (a) With the consent of the donor in a record, an institution may modify or release, in whole or in part, a restriction in a gift instrument on the management, investment, and purpose of an institutional fund. A donor may give prior consent to an institution for release …

Sec. 14. (a) An institution that manages or invests an institutional fund shall consider the following: (1) The intent of a donor expressed in a gift instrument. (2) The charitable purposes of the institution. (3) The purposes of the institutional fund. (b) A person who is respon…

Sec. 15. (a) Subject to the terms of a gift instrument and except as provided in any other law, an institution may delegate to an agent the management or investment of an institutional fund. The institution shall act in good faith and with the care a prudent person acting in a li…

Sec. 16. Compliance with this chapter shall be determined in light of the facts and circumstances existing at the time a decision is made or action is taken and not by hindsight. As added by P.L.226-2007, SEC.19.

Sec. 17. (a) Except as provided in subsection (b), this chapter modifies, limits, and supersedes the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. 7001 et seq. (b) This chapter does not: (1) modify, limit, or supersede 15 U.S.C. 7001(a); or (2) authorize el…

Sec. 18. In applying and construing this chapter, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it. As added by P.L.226-2007, SEC.21.

Sec. 2. As used in this chapter, "endowment fund" means an institutional fund, or any part of the fund, not wholly expendable by the institution on a current basis under the terms of the applicable gift instrument. The term does not include assets that an institution designates a…

Sec. 3. As used in this chapter, "gift instrument" means a record, including any institutional solicitations, under which property is granted or transferred to or held by an institution as an institutional fund. As added by P.L.268-1989, SEC.1. Amended by P.L.226-2007, SEC.10.

Sec. 5. As used in this chapter, "institution" means any of the following: (1) A person, other than an individual, that is organized and operated exclusively for charitable purposes. (2) The state, including any agency or instrumentality of the state, or a unit of local governmen…

Sec. 6. As used in this chapter, "institutional fund" means a fund held by an institution exclusively for charitable purposes. The term does not include the following: (1) A fund held for an institution by a trustee that is not an institution. (2) A fund in which a beneficiary th…

Sec. 6.4. As used in this chapter, "person" means an individual, a corporation, a business trust, an estate, a trust, a partnership, a limited liability company, an association, a joint venture, a public corporation, the state of Indiana, a state agency or instrumentality, a unit…

Sec. 6.7. As used in this chapter, "record" means information that is: (1) inscribed on a tangible medium; or (2) stored in an electronic or other medium; and is retrievable in a perceivable form. As added by P.L.226-2007, SEC.14.

Sec. 9. (a) Subject to the terms of a gift instrument, an institution may appropriate for expenditure or accumulate so much of an endowment fund that the institution determines is prudent for the uses, benefits, purposes, and duration of the endowment fund. Except as provided in …